Meta chief, Mark Zuckerberg, surpassed Dell Technologies CEO, Michael Dell, as the world’s fifth-wealthiest person on Friday, making the jump as shares of the computer company plummeted.
Key facts
Zuckerberg’s estimated net worth jumped to $217.2 billion as Meta’s stock grew more than 1% to around the $633 mark.
Meanwhile, a nearly 9% drop in Dell Technologies shares sent Dell’s fortune sliding by roughly $13 billion, with his estimated net worth falling to around $206 billion.
Dell is Friday’s biggest billionaire loser followed by Elon Musk, whose fortune fell by $9.2 billion.
Despite the tumble, Dell is still well ahead of Warren Buffett ($168.8 billion) on Forbes’ real-time billionaires list.
Forbes valuation
Ahead of Zuckerberg on the billionaires list is Alphabet co-founders Sergey Brin ($224.7 billion) and Larry Page ($244 billion), Jeff Bezos ($383 billion) and Musk ($885 billion).
Big number
164%. That is how much Dell Technologies stock has grown since the start of the year, when shares were priced around $127.
Key background
Dell, who is also the chairman of Dell Technologies, has built much of his wealth through assets in his private investment firm DFO Management as well as a roughly 40% stake in his computer company. Dell’s stock has soared amid booming demand for AI infrastructure, which has helped the company record a $95 billion backlog of AI orders, according to a September earnings call. Dell also logged record-breaking revenue of $47 billion in its latest earnings report, as AI server revenue reached $16.4 billion. Revenue from that offering is expected to reach $74 billion during Dell’s fiscal 2027.